Just before Bitcoin reached $73,000, quiet altcoins such as XRP price became active again. The price of Ripple surged 18% overnight as it formed a huge bullish candle to change the dynamics of the price chart.
Additionally, a trend reversal is a sign that the price of XRP is likely to exceed $1. Will Ripple price reach double digits due to market reversal and increasing bullish sentiment? Learn more about XRP price prediction.
Will Ripple Cross $1?
With XRP price rising from the 200-week EMA, the altcoin is preparing for a double bottom breakout. Before that, the recent surge led to a breakout of a triangle pattern on the weekly chart.
Source – Trading View
After breaking above the 23.60% Fibonacci level, altcoin prices have started the week on a strong note and are poised to challenge the next 38.20% Fib level. Therefore, a strong close above a broken supply trend line increases the likelihood of an uptrend.
Currently, the price of XRP is trading at $0.70, down 2.58% during the day due to a decline following an overnight surge. This brief correction prepares the altcoin to continue its general trend. Additionally, a bullish candle at the 23.60% Fib level along with a surge in volume supports the possibility of an uptrend.
Technical indicators:
DMI: This bullish jump causes the ADX line to surge, reflecting the increase in trend momentum. Additionally, positive alignments on the VI line gain significant gaps, reflecting underlying strength.
Will XRP price maintain its upward trend?
Market price rises as a giant whale transfers 300,000,000 XRP tokens worth approximately $187 million from #Binance to an unknown wallet. Additionally, improved sentiment supports Ripple’s upward trend.
Considering that the uptrend manages a double bottom breakout, the altcoin price could reach $1.08 or the 50% Fib level.